Maven invests £4.25m in Fathom Systems MBO

The buyout will enable Fathom to expand internationally and diversify its products into new high-end engineered systems.

The deal is Maven's ninth private equity transaction in 2014. This year, the GP has invested £3.9m in Crawford Scientific, a provider of products and services to laboratories; led a £4.6m investment in ISN Solutions, an IT and communications service provider for the oil & gas industry; and taken part in a Penta Capital-led round for UK cycling apparel designer Endura.

Maven stated it was attracted by the business's reputation and the increasing demand for "intelligent underwater systems" owing to increasing health and safety requirements.

Company
Founded in 2005 and headquartered in Portlethen, near Aberdeen, Fathom provides products and services for the commercial diving, remotely operated vehicles and underwater engineering sectors. Over the past year, the business has doubled both its headcount and turnover. It currently employs 36 people and generates revenues of £5m.

People
Jock Gardner is a partner at Maven. Gareth Kerr is managing director of Fathom Systems.

Advisers
Equity – Burness Paull (Legal); Campbell Dallas (Financial due diligence); Calash (Commercial due diligence); Mattioli Woods (Benefits and pensions due diligence); Marsh (Insurance due diligence).
Vendor - Blackwoods (Legal); Bell Associates (Corporate finance). 

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